CORFAC News

02 Feb2017

Commercial Properties Inc./CORFAC International Handles $1.5 Million Sale of Retail Center

Commercial Properties, Inc./CORFAC International. (CPI), Arizona’s largest locally owned commercial real estate brokerage, is pleased to announce the sale of a retail strip center located at 3632 W Pinnacle Peak Road in Phoenix, Arizona. The building is approximately ±7,700 square feet, with prime frontage on Pinnacle Peak Road and 36th Avenue. Eric Butler of CPI’s Investment Specialist Team represented the owner, Sen's Property, LLC.  

Butler commented, "This property was fully leased at the time of the sale with a great tenant mix and a lot of upside on future rents.  Presenting investors an opportunity with stable, long-term tenants in a high traffic area in the Northwest Valley ended up generating multiple back up offers."   

The buyer, MNHF Investment, LLC, purchased the property for $1.5 million ($195 PSF).

Eric Butler may be contacted for additional information at ebutler@cpiaz.com and 480.522.2788.

About Commercial Properties Inc./CORFAC International
CPI is a CORFAC International affiliate, full-service Brokerage and Property Management firm for all product types. Headquartered in Tempe, the company has more than 50 brokers and occupies two offices locally. Currently, CPI's listings include over 20 million square feet for sale/lease, and 180 projects under property management, totaling over 6.2 million square feet. Please visit our web site at www.cpiaz.com.

 

MEDIA CONTACT

Patricia True Agos
773-758-5044
patricia@ktpronline.com

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Locally Owned. Globally Connected

CORFAC International is comprised of privately held entrepreneurial firms with expertise in office, industrial and retail brokerage, tenant and landlord representation, investment sales, multifamily, self-storage, acquisitions and dispositions, property management and corporate services. Founded in 1989, CORFAC has 49 offices in the U.S., 5 in Canada and 17 in international markets, including Australia, Colombia, France, Germany, Ireland, Israel, Italy, Japan, Mexico, Netherlands, Romania, Russia, South Korea, Switzerland and the United Kingdom. CORFAC offices completed more than 10,000 lease and sales transactions totaling 620 million square feet of space valued in excess of $8.2 billion in 2018.